Greater Vancouver experienced a significant decline in annual home sales in 2025, marking the lowest figure in over twenty years. The region saw diminished buyer interest, a rise in housing inventory, and falling prices, as per the latest data from Greater Vancouver Realtors.
In 2025, residential sales in the area totaled 23,800, a 10.4% drop from the previous year and nearly 25% below the ten-year average. This number represented the lowest volume of homes sold in the region, surpassing the figures from the 2008 financial crisis.
Andrew Lis, the chief economist of the board, described the year as historic, noting the ongoing trend of dwindling sales. Despite the reduced sales, real estate agents remained active in listing properties, with over 65,000 properties listed in 2025, an 8.2% increase from 2024 and more than 28% higher than 2023 levels. Additionally, the total number of properties listed in 2025 exceeded the region’s ten-year annual average by 13.1%.
Throughout the year, prices across all property types experienced a decline due to decreased sales and increased inventory. The benchmark prices for detached homes, condos, and townhouses all saw decreases compared to the previous year.
Trade tensions with the United States were cited as a significant factor affecting buyer sentiment, contributing to the market slowdown. Real estate adviser Hasan Juma highlighted how global events and affordability concerns led to buyer hesitation and prolonged property listings.
Despite the challenging market conditions, there are opportunities for buyers, with lower prices, reduced borrowing costs, and ample inventory available. Analysts anticipate a potential improvement in sales in 2026 as uncertainty wanes and buyer confidence rebounds.
The regions covered by Greater Vancouver Realtors include Bowen Island, Burnaby, Coquitlam, Maple Ridge, and several other municipalities.